The team issued a press release Sunday afternoon confirming their choice and welcoming Reich to the team.

“We are extremely excited to announce Frank Reich as head coach of the Indianapolis Colts,” said Colts owner & CEO Jim Irsay. “Frank has all the ingredients of a successful head coach: intelligence, innovation, character, organizational and leadership skills, and a commanding presence. He also has a stellar reputation, and his myriad of life experiences and the people he has worked with make him the perfect fit for us and our fans. I feel extremely fortunate and could not be more excited for Colts Nation and the future of our franchise."

“We are excited to have Frank Reich as our new head coach,” said Colts general manager Chris Ballard. “Frank is a leader of men who will demand excellence from our players on and off the field. I look forward to working with Frank to deliver a championship-caliber team to the city of Indianapolis.”

ESPN reported Sunday that Reich was the favorite for the job out of the three candidates the Colts have interviewed since the Josh McDaniels' spurn last week.

According to ESPN, the Colts interviewed New Orleans Saints assistant head coach Dan Campbell on Thursday, Reich on Friday and Buffalo Bills defensive coordinator Leslie Frazier on Saturday.

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